Exploring the evolution of money from Metallism to Nakamotoism. Today's digital commodies like Bitcoin, Litecoin, and Dogecoin are redefining value in the digital age. 🪙
@anthonyonchain recently ported Ordinals, a NFT protocol created by Casey Rodarmor, to Litecoin. To commemorate the occasion, the first inscription on the Litecoin blockchain is the MWEB white paper.
Scrypt is a memory-hard function designed to protect against denial-of-service attacks and for metering clients' access. It is resistant to specialized hardware like ASICs and FPGAs, making it more secure than other algorithms.
Milton Friedman's research on US monetary history during the 19th century challenges the conventional view of bimetallism versus gold monometallism, arguing that the superiority of monometallism is dubious. This paper explores the implications of Friedman's findings and challenges the status quo.
After every 840,000 blocks mined, or roughly every four years, the block subsidy given to Litecoin miners for processing and securing transactions is cut in half.
Application Specific Integrated Circut (ASIC) miners are designed to mine a specific algorithm; they cannot be configured to mine a different algorithm.
Money, from cowry shells to digital currencies like Bitcoin, embodies a universally accepted medium of exchange. Its properties—acceptability, divisibility, stable supply, portability, fungibility, and durability—define its effectiveness and utility.